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Euronews
Euronews
Indrabati Lahiri

Trump-backed conservative news channel’s share price soars over 2,200%

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Newsmax, a conservative cable channel backed by US president Donald Trump, has seen an explosive stock market debut, with shares soaring about 2,230% since its listing on the New York Stock Exchange (NYSE) on Monday. 

The TV company’s shares were initially priced at $10 (€9.30) each, but closed at $233 on the NYSE on Tuesday, having risen as high as $264.89 (€245.20) on Tuesday. However, shares pulled back a little in pre-market trading on Wednesday, dropping 23.7% to $177.8 (€164.60). 

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